If you give away substantial amounts of money during your life or after, you may have to pay tax.

IRS Announces 2015 Estate And Gift Tax Limits: The federal estate tax exemption rises to $5.43 million per person for 2015, but the annual gift exclusion amount stays at $14,000.

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IRS Announces 2015 Estate And Gift Tax Limits If you want to make gifts and not have to bother to keep track for gift tax purposes, you can make gifts for medical, dental, and tuition expenses for as many relatives (or friends) as you’d like if you pay the provider directly. These gifts don’t count towards any of the limits.

IRS Announces 2016 Estate And Gift Tax Limits: The $10.9 Million Tax Break - Forbes

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